Updated Residential Income
For Sale
$469,950
6608 NETTIES LANE Unit 1411, Alexandria, VA 22315
Two-level home with a garage, wooded outlook, balcony, and renovated interior finishes.
Property Size1,365 SF
Price / SF$344.29
Days on Market44
Property Features for 6608 NETTIES LANE Unit 1411
General Information
Standard status
Active
Size
1,365 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,333
Amenities
fireplace
balcony
clubhouse
outdoor swimming pool
tennis courts
basketball courts
volleyball court
tot lots
walking paths
pond for catch-and-release fishing
Building Details
Building Size
1,365 SF
Year Built
1996
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Cynthia Schneider · License #0225136582
(703) 822-0207
Source:
Kerishull
Added: Jul 23
Changed: Aug 31
Last Checked: Sep 1 at 10:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,365-square-foot two-level residence, built in 1996, includes a one-car garage, hardwood flooring, a vaulted living room, fireplace, crown molding, and chair rail details. The kitchen has stainless appliances, white cabinetry, granite counters, track lighting, and a pantry. A balcony with Trex decking faces trees, while the upper level provides two bedrooms with en-suite baths, two walk-in closets in the owner's suite, and a laundry room. All bathrooms have been updated, the HVAC system was installed in 2026, and new carpet was added in 2025.
Located in Island Creek, the property includes access to a clubhouse, outdoor pool, tennis and basketball courts, a volleyball court, tot lots, walking paths, and a catch-and-release fishing pond. The community is near Fort Belvoir, Metro, Wegmans, two town centers, and major commuter routes.
Located in Island Creek, the property includes access to a clubhouse, outdoor pool, tennis and basketball courts, a volleyball court, tot lots, walking paths, and a catch-and-release fishing pond. The community is near Fort Belvoir, Metro, Wegmans, two town centers, and major commuter routes.
Key Highlights
- 1,365‑square‑foot residence built in 1996
- One‑car garage and Trex‑decked balcony with wooded outlook
- Two bedrooms, each with an en‑suite bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,924
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$418,480
$418.5K
Cap Rate 7%
$298,914
$298.9K
Cap Rate 9%
$232,489
$232.5K
Market Conditions
NOI Build-Up for 1,365 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.1K $29.40/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$38.0K $27.87/SF
− OpEx
−$17.1K −$12.54/SF
NOI
$20.9K $15.33/SF
Area
Alexandria, VA
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$418,480
Cap Rate 7%
$298,914
Cap Rate 9%
$232,489
Alternative Uses
Best Use
Apartment 5plus
$298.9K
$261.6K – $348.7K
NOI $20,924 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$758.2K
$663.4K – $884.5K
NOI $53,071 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 22315, VA
28,184
Population
11,660
Households
2.4
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
5.5 sq mi
ZIP Area
5,124
Density / Sq Mi
$156,230
Median Household Income
$89,478
Median Earnings
$2,396
Median Rent
$609,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level home with a garage, wooded outlook, balcony, and renovated interior finishes.
Where is this residential income property located?
The property is located at 6608 NETTIES LANE Unit 1411 Alexandria, VA.
What is the asking price?
The asking price for this property is $469,950.
What are key features of this property?
This property features: 1,365‑square‑foot residence built in 1996; One‑car garage and Trex‑decked balcony with wooded outlook; Two bedrooms, each with an en‑suite bath
